Siege mentality is real. I'm not sure I see the connection in this case to the racial issues. "All Lives Matter" is clearly a reaction to "Black Lives Matter."
Respectfully, it seems clear because you're living under a siege mentality. "All Lives Matter" is a short phrase composed of common English words - some people do use it as a slogan to oppose the BLM movement, but others use it as a compact expression of the idea that every human's life has value. When Jennifer Lopez tweeted "#AllLivesMatter #LoveMakeTheWorldGoRound" over a picture of herself holding hands with Lin-Manuel Miranda and rainbow flags waving in the foreground, is it really plausible that she was declaring her allegiance to anti-BLM groups?
No. Again, it seems impossible to believe that JLo (and Hilary Clinton, and Fetty Wap, and...) said All Lives Matter as a covert signal they don't like the BLM movement. I'm sure some people somewhere have said it to troll, but I think the concern over the phrase is mostly a moral panic.